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China's overall economy is running well, but the foundation is instable, especially its endogenous economic growth capacity is weak, said Zhang Liqun, a researcher at the Development Research Center of the State Council.

As the 2nd Youth Olympic Games will take place in Nanjing, capital of east China's Jiangsu Province, next August, Xi said the preparation is under way and China will honor its commitment and make the Games a success.

Johnston is paying a state visit to China from Friday to Thursday at the invitation of Chinese President Xi Jinping. On Friday, Xi also met with the governor general.

In addition, Xi called on the participants to build the G20 platform into an important force for stabilizing the world economy, creating an international financial safety net and amending global economic governance.

The DRC report details eight main reform areas. The areas cover monopoly industries, land, finance, tax and fiscal systems, opening-up, government administration, state-owned assets, as well as boosting innovation and green development.